” ABIR has a deep bench of talented, re/insurance executives prepared to lead on important regulative, policy and worldwide market initiatives,” ABIR Chair and Arch Capital Group CEO Marc Grandisson explained. “I d like to thank our remarkable market skill for stepping up to lead the cumulative efforts of Bermudas worldwide re/insurance market. With this team in location, Bermuda is well positioned for the upcoming market chances around the world.”
The Association of Bermuda Insurers and Reinsurers (ABIR) has launched a brand-new working group focused on insurance-linked securities (ILS) and alternative reinsurance capital.ABIR has established a series of working groups and committees focused on essential concerns and opportunities facing the insurance and reinsurance market, with the objective of ensuring the Bermuda market is ready to react to them and capitalise on chances to grow its lead.
” ABIR has a deep bench of gifted, re/insurance executives happy to lead on essential regulative, policy and global market initiatives,” ABIR Chair and Arch Capital Group CEO Marc Grandisson described. “I d like to thank our significant industry skill for stepping up to lead the cumulative efforts of Bermudas worldwide re/insurance market. With this group in place, Bermuda is well positioned for the upcoming market chances around the globe.”
Most relevant for our readers is the freshly established ILS and Alternative Capital Working Group, to which Andrew Hughes, CEO, Third-Party Capital at Partner Re, has actually been designated as leader.
Bermuda is currently a world-leader in the insurance-linked securities (ILS) area, with the majority of the worlds disaster bond and ILS deals domiciled there and a significant share of the ILS markets asset base handled from the island.
The working group will help to guarantee Bermuda is up to speed on advancements and prepared to capitalise on new chances in the ILS market.
ABIR has also established a Policy Committee which will review public policy and re/insurance regulation in Bermuda and worldwide, communicating closely with the ABIR Board.
The Policy Committee will be led by co-chairs Edward Mishambi, SVP, Chief Risk Officer– Europe, RenaissanceRe and Gemma Carreiro, General Counsel, Hamilton Insurance Group, with Deputy Chair Tim Peckett, General Counsel, Arch Reinsurance Ltd. It is staffed by Suzanne Williams-Charles, ABIR Director of Policy & & Regulation, Corporate Secretary and Data Privacy Officer.
An ABIR Cyber Working Group will encourage on cyber insurance coverage and reinsurance market trends and products and will be led by Co-Chairs, Devin Page, Head of Specialty Reinsurance, Hiscox Re and Allen Wilson, Chief Information Security Officer, Axis Capital.
The ABIR Human Resources Working Group will concentrate on talent and culture and be led by Co-Chairs Lisa Robinson, Head of HR & & Operations, Convex Re and Randolph Simons, VP, Senior HR Business Partner– Global Reinsurance/Director, Compensation and Benefits, Chubb.
The ABIR Data & & Privacy Taskforce will be chaired by Jim Paugh, General Counsel, Chubb Bermuda.
The ABIR Climate Risk Committee will encourage the membership on climate-risk associated issues worldwide and likewise help to collaborate the work of ABIR with the Insurance Development Forum. It will led by Chair Jeffrey Manson, SVP, Head of Global Public Sector Partnerships, RenaissanceRe.
Lastly, the ABIR Diversity, Equity & & Inclusion Committee will be assisted by Catherine R Duffy, Country Leader, AIG.
” ABIR continues its rich history of global leadership in re/insurance markets with the visits of these international executives,” commented John M. Huff, President and CEO of ABIR. “These accomplished leaders represent the best of the ingenious and entrepreneurial spirit of Bermudas leading insurers and reinsurers, which are important to preserving international economies around the world.”